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ACCC will not oppose proposed acquisition of OneSteel Sheet and Coil by BlueScope Steel Ltd from Arrium Ltd following divestiture remedy


Wednesday, 5 Mar 2014 05:21pm EST 

The Australian Competition and Consumer Commission:Says that it will not oppose the proposed acquisition of the OneSteel Sheet and Coil business from Arrium Ltd by BlueScope Steel Ltd after accepting an undertaking from BlueScope to sell its sheet and coil processing assets in Western Australia.After consultation with a range of market participants, including sheet and coil distribution customers, rival sheet and coil distributors and industry associations, the ACCC identified competition concerns in sheet and coil distribution in Western Australia.BlueScope has agreed to provide a court enforceable undertaking requiring it to sell its sheet and coil processing assets in Western Australia to an ACCC approved purchaser.The ACCC clearance includes approval of Selection Steel as the purchaser of the divestiture business. 

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20 Oct 2014